China's National Film Administration and the Ministry of Commerce have initiated a "Film+" comprehensive consumption pilot program. Following selective recommendations from relevant provinces and cities, 16 urban areas have been designated as pilot zones: Beijing's Chaoyang District, Changchun City in Jilin Province, Shanghai's Hongkou District, Wuxi City in Jiangsu Province, Ningbo City in Zhejiang Province, Fuzhou City in Fujian Province, Qingdao City in Shandong Province, Zhengzhou City in Henan Province, Yichang City in Hubei Province, Changsha City in Hunan Province, Shenzhen City in Guangdong Province, Chongqing's Liangjiang New Area, Chengdu City in Sichuan Province, Yan'an City in Shaanxi Province, plus Kunshan City in Jiangsu Province and Nanxun District of Huzhou City in Zhejiang Province. According to the work plan, these pilot cities will focus on cultivating incremental movie viewing consumption, enhancing cinema consumption quality and innovation, expanding film derivative consumption, building "Film+" consumption brands, and exploring consumption monitoring mechanisms. The initiative aims to leverage film's creative leadership, cultural cultivation, and crowd-gathering effects, using "Film+" consumption to drive economic and social development by creating new business formats, models, and scenarios. This will extend the film industry's industrial chain, value chain, and consumption chain, fostering a healthy film consumption culture and ecosystem to promote market prosperity and better meet growing public demand for quality living. Hong Kong-listed companies in the film industry chain include Damai Entertainment (01060), Maoyan Entertainment (01896), IMAX CHINA (01970), and China Ruyi (00136).

U.S. stock indices declined with major tech stocks broadly lower. The Dow Jones Industrial Average fell 669.42 points to 49,451.98, down 1.34%. The S&P 500 dropped 108.71 points to 6,832.76, losing 1.57%. The Nasdaq Composite decreased 469.32 points to 22,597.15, down 2.03%. Apple fell 5%, Broadcom dropped over 3%, while Amazon, Meta, and Tesla declined over 2%. Precious metals and cryptocurrency sectors led losses, with U.S. Gold Corp, Pan American Silver, and Robinhood down over 8%, Coinbase falling over 7%, and Circle declining over 2%. Most popular U.S.-listed Chinese stocks fell, with the Nasdaq Golden Dragon China Index down 3% and Alibaba dropping over 3%. The Hang Seng Index ADR declined proportionally to 26,594.96 points, down 437.58 points or 1.62% from Hong Kong's close. NYMEX WTI crude oil futures for the current month fell $1.72 to $62.91 per barrel, down 2.66%. International precious metals plummeted, with COMEX gold futures for the current month dropping $157.10 (3.08%) to $4,941.4 per ounce, and COMEX silver futures plunging $8.91 (10.62%) to $75.01 per ounce.

Cyberspace authorities are strictly addressing the dissemination of AI-generated content without proper identification. Recent incidents involved accounts publishing synthetic information without AI labels, misleading the public and damaging the online ecosystem. Authorities have instructed platforms to investigate and rectify, handling 13,421 accounts and removing over 543,000 illegal items according to law. The Ministry of Commerce announced its final ruling on countervailing investigations against certain dairy products imported from the EU. Based on the Countervailing Regulations, the ministry recommended imposing countervailing duties to the Customs Tariff Commission, which decided to implement them starting February 13, 2026. Beijing has introduced measures supporting commercial health insurance innovation, allowing innovative drugs outside the "one product, two specifications" rule. These drugs can bypass hospital formulary limits and be supplied through dual-channel mechanisms at designated medical institutions or pharmacies. Innovative drug costs may be excluded from DRG payment standards and paid separately, with cases potentially exempt from disease-based payment systems after review.

Changmin Sheng Logistics (01292) announced that major shareholder Mercuria Logistics transferred 16.03% of its H shares (approximately 32.3992 million shares) to Land-Sea Zhongbang (Hong Kong), completed on February 12, 2026. Land-Sea Zhongbang (Hong Kong) is now a major shareholder. MicroPort Robot-B (02252) reported that global commercial orders for its Toumai® laparoscopic surgical robot exceeded 200 units, covering nearly 50 countries and regions, with nearly 130 units installed. This milestone reflects growing global recognition of Toumai's clinical value. Hua Hong Semiconductor (01347) reported 2025 results with revenue reaching a record $660 million in Q4, up 22.4% year-over-year. Gross profit was $85.464 million, up 39.1% year-over-year, while profit attributable to owners was $17.454 million, turning profitable year-over-year but down 32.2% quarter-over-quarter. China Isotope & Radiation (01763) issued a profit warning, expecting 2025 revenue of RMB6.979-7.206 billion (down 5-8% year-over-year) and net profit of RMB611-655 million (down 25-30% year-over-year), mainly due to decreased nuclear medical equipment revenue and tax payments by a subsidiary. Skyworth Group (00751) also issued a profit warning, anticipating a 30% decrease in 2025 profit due to China's property market downturn affecting its modern services segment. Bingo Group (08220) received a takeover offer from Stephen Chow at HK$0.275 per share, a 91.79% discount to the last traded price of HK$3.35, following a proposed conversion of HK$19 million convertible bonds.

In gray market trading, Haizhi Tech GP (02706) surged 210.42% to HK$84, with each lot (200 shares) gaining HK$11,388 before fees, making it the standout pre-holiday performer. The company's market capitalization reached HK$33.636 billion. Wolong Resources (09981) will list in Hong Kong on February 13, with gray market trading indicating a 5.92% rise to HK$21.28 versus the offer price of HK$20.09, yielding HK$238 per lot before fees.

Knowledge Atlas (02513) saw its GLM Coding Plan sell out immediately after launch. On February 11, the company released its flagship GLM-5 model, achieving open-source SOTA performance in coding and agent capabilities, with real-world programming experience approaching Claude Opus4.5 levels. The model is available on BigModel.cn, Z.ai, and the ZhiPu QingYan app. On February 12, the paid套餐 for the domestic AI coding model sold out, a rare industry occurrence. The company had previously raised GLM Coding Plan prices by at least 30%. The National Supercomputing Internet AI community has adopted GLM-5, which has undergone deep optimization with domestic chips including Huawei Ascend, Moore Threads, Cambricon, Kunlun Chip, MetaX, Suiyuan, and Haiguang, enabling stable high-throughput, low-latency operation on domestic computing clusters. This development signifies more than engineering adaptation—it enhances AI computing supply chain autonomy, making open-source agentic engineering tools viable for large-scale deployment alongside controllable domestic computing platforms.